Given Any Upward-Sloping Supply Curve for a Good,the More Inelastic

question 280

Multiple Choice

Given any upward-sloping supply curve for a good,the more inelastic the demand curve,the _____ equilibrium output will fall and the _____ will be the deadweight loss when the government imposes an excise tax.

• A)more;smaller
• B)more;larger
• C)less;smaller
• D)less;larger

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Definitions:

Doing Business Abroad

The activity of engaging in commerce or investment in foreign countries, often involving different regulations and environments.

Multinational Corporations (MNCs)

Companies that operate in multiple countries beyond their home country.

Operations

The day-to-day activities involved in running a business to produce goods or services.

Direct Quote

A quote in foreign exchange markets that specifies the domestic currency price for one unit of a foreign currency.